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the lame-duck session. president obama spoke to harry reid over the phone about the fiscal cliff over the weekend. the white house is making it clear today that the president won't sign a bill that extends tax cuts for those earning $250,000 a year in social security. it will not be part of the fiscal cliff. so we are going to talk about the compromise. we have a congress and to talk about this with us. >> and you for having me cheryl: or a little bill? >> we were waiting and hoping to compromise with its administration. but they they would just never come to the table. >> these democrats want to continue spending on social programs, republicans don't want tax cuts to be touched. you think we can have coromise from both sides on each of these issues? the rhetoric that we are hearing on a television screen is pretty negative. >> he did say that we want and the republicans will reach out to less. cheryl: after the last election, the november election, it was a referendum on many republicans. some of them walked away and said, okay, we did not get the senate back, we are moving forward.
into this story. thank you. i really appreciate it. coming up, president obama's new fiscal cliff strategy revealed. the president taking a page from his campaign. he's trying to get the public on his side when it comes to extending the bush tax cuts for the middle class. do the exit polls show he has the public on his side? chris van hollen will join us live. plus, another day of deadly protests in cairo over egypt's president morsi's new sweeping powers that he is seeking. we'll get a live report. plus, the former head of florida's republican party, he's making a stunning claim about the state's early voting law saying it was deliberately designed to suppress minority votes. it's just one of the things we thought you should know. join our conversation on twitter. you can find us at @tamronhall and at @newsnation. a winter wonderland doesn't just happen. it takes some doing. some coordinating. and a trip to the one place with the new ideas that help us pull it all together. from the things that hang and shine... ...to the things that sparkle and jingle. all while saving the things that go
to "power lunch." it is a fiscal cliff faceoff. president obama meeting with small business leaders at the white house this afternoon to make his case for higher taxes ahead. we will also go to the home state of a kai player in tey pl talks. >>> the chevy volt struggling to work with car makers aed car buyers. why is general motors doubling down with its big bet in electric and has it jumped its sales? >>> facebook stock up 10% in the past week and 30% the past two months. has it finally turned a corpser? >>> speaking of corners, we have switched corners, tyler, the gentleman that he is, is braving you the snow and the ice in new york city and he is down on the floor of the new york estock exchange. >> a mucky day. not since 2008 has it been so high. more evidence the housing recovery is taking root. prices rising in the big cities but a warning we may head into a recession next year if the u.s. and europe don't solve their fiscal messes. right now the dow industrials a built of a breather down 21 points. >>> meanwhile, 34 days to the fiscal cliff. will a deal be done in time? today
and their respective parties in debating and discussing solutions to the fiscal cliff. president obama organizing a campaign to persuade voters that his plans for higher taxes on the wealthy are the right path forward. leading republicans creating consternation within their own party does they reversed themselves from taxes and seemingly the president's ideas of increases, a growing number on the right rejecting their no new taxes pledges and instead are now claiming the grover norquist is the real problem in washington d.c. fox digital politics center is here with us tonight as is the daily caller stalker carlson. egyptian leader declaring new powers for himself, claiming he won't be just another dictator. just a week ago praised by the obama administration for brokering a ceasefire in gaza, and now the white house is silent on the more -- coupe. middle east expert professor hoover institute senior fellow "wall street journal" as columnist among our guests here tonight. we begin with the president's broad based strategy to conduct our right class warfare against the republican party on the issue
, uncertainty is killing me but they fail to mention that tax hike with fiscal cliff, president obamaments tax hikes on those making more than $2 theft thousand a year, that will affect their middle class that their job creat creators the nor be able to pay them. neil: the train has left that spending station. i should say that taxes will go up. leaving that aside. how do you make the argument that a deal by the end of the year, even if it is bad, is better than no deal, if ratings agents pounce on a crafty deal, let's say waded toward tax hikes not addressinggspending cuts, wouldn't credit agency seize on that and downgrade us just the same? >> absolutely. this is what we saw with debt ceiling last summer, we saw our credit rating go down. and if you want to talk about that, white house tapped tim geithner today, treasury secretary to head the fiscal talks, he is the one that said we should have a debt ceiling and got the bad debt deal last year, and we were down graded anyway. if it is a bad deal, which is is probably going to be because we have no time left. neil: word from dick carney at w
from the fiscal cliff? >> first of all, give honor to god. ♪ ♪ lord and savior, barack obama. >> eric: not even that savior. 36 days going over the fiscal cliff. you should know what is at stake if partisans don't figure out a way soon. bush tax cut goes away and that alone would drive taxes up for every american. the patches will die as well. so add in the failure of the super committee and sequestered $1.2 trillion. spending cuts of $600 billion in defense. why are we here? you can't blame revenues. americans forked over $2.3 trillion in taxes and fees last year. the taxaholics are stone cold drunk on our spending. spending is out of control. mr. president, waiting for you to stand up and show leadership. bob, haven't heard a thing. crickets. >> eric: i think you heard things. there is movement going on here. >> bob: i'm glad they're breaking away from norquist and say there is a need for revenue. i think whether that comes in form of limiting deductions to $50,000 for people making over $250,000 or -- >> eric: i can say. we will get to all of that. we'll get to the deals that may g
in washington. the president's fiscal cliff campaign. live pictures of the white house are president obama will meet today with 15 small business owners. the first of a series of meetings this week as the administration puts the pressure on congress to make a deal. the "washington post" reporting the talks are accelerating between president obama and top congressional leaders, including john boehner who was on the phone with the president over the weekend. the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senato
the upcoming fiscal cliff. president obama met with the heads of both the house and the senate before the thanksgiving recess. and the group called for a second meeting this week. a senate democratic aide said talks though in the last week have not been very productive. the fact that this second meeting has not been scheduled yet could be a sign that congress is not making as much progress as it had hoped. we are hearing some republican lawmakers saying they are willing to break with grover norquist's pledge to never raise tax revenue. but they're still talking more about capping deductions and closing loopholes rather than raising actual tax rates. in order to reach a compromise, republicans will need to agree to some form of increased tax revenue and to convince them to do that, the democrats will likely have to accept some deep cuts to entitlement programs like medicare and medicaid. there are just 35 days left until the end of the year but top lawmakers say they are still confident they can reach a compromise. democ
, housing and the consumer. plus the looming fiscal cliff as talks continue on capitol hill. president obama prepares to meet with another group of ceos, it's november 27th, 2012, "squawk box" begins right now. >>> good morning. welcome to "squawk box." i'm becky quick along with joe
. the president's team wants to use that energy in the current fiscal cliff debate. quote, mr. obama's aides are trying to harness the passions that returned him to the white house hoping to pressure republicans in congress to accept tax increases on the wealthy. joy reid is managing editor of thegrio.com. she's at least as smart as i am, which is not an accolade, it's a fact, and she's much younger. okay. we found out this weekend, and you know this better than i, i enjoy your report on this, the obama campaign wasn't some kumbaya number. it was an incredibly organized machine. it was real, it was people meeting people, getting points for how many contacts you made with voters. they knew a certain number of contacts led to a probability of people voting. incredibly hands-on, real people with other people. can you turn that machine into something that can get the right kind of deal? >> i think the president spent a year and a half developing a gigantic infrastructure that really came out on election day. and he did that -- >> human. >> through these kinds of direct contacts, but he also had
reductions now. quick comment? >> obama does not care about a deal. he does not care if we go off the cliff. he just cares that he's not the one who is blamed if and when we do. charles: i agree. finger pointing might win elections but doesn't solve the crisis. that's why america is in a predicament is in. stuart: let's go to nicole. las vegas sands, paying out a dividend? nicole: take a look at las vegas sands. look sat how well the stock is doing here -- look at how well the stock is doing. this is a day where the dow jones industrials are down nearly 50 points, but las vegas sands is up 4%. they are doing the same thing that dillard's is doing, right, another special dividend here. las vegas sands is approving a special dividend of 2.75 a share. this will now obviously be ahead of the fiscal cliff. so dillard's as we talked about earlier in the show which is all-time high, wal-mart, ethan allen, just to name a few trying to get them in before the new year. stuart: we hear it. thank you very much nicole. >>> let's hope president obama's second term does not begin like fdr's. there are alr
back to steve harrigan as events warrant. president obama taking plans for avoiding fiscal cliff to the voters with a look at his pitch and the response from republicans, next. are you receiving a payout from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. gives you a low national plan premium... so you can focus on what really matters. call humana at 1-800-808-4003. >>shepard: the president will make a public pitch on his plans for dealing with the fiscal cliff. according to the white house the president will make a campaign style appearance on friday at the toy manufacturing plant in pennsylvania. republicans and democrats are working to avoid going over the cliff. the popular term for the combination of spending cuts and tax cut eliminations set to hit at the start of the new year. the president has been pushing congress to preserve the bush era tax rates for the middle class but let them expire for american whose make more than $250,000 a year
about the idea of going off the fiscal cliff. alan krueger, the chairman of president obama's economic advisers, he spoke about what would happen if we go off this so-called fiscal cliff. in this report put out by the white house, american consumers will spend 200 billion less in 2013 if the fiscal cliff is not averted according to this white house report. jay carney went on to say in this press briefing that president obama believes and understands that in order to achieve a deal, a compromise, that everybody has to make tough choices and he remains committed. but this is what he said about social security -- the white house is less interested in tackling the rising costs of social security during the current talks. so that is what is the latest coming out of the white house on the fiscal cliff talks. the two sides not scheduled to meet face to face. as you heard from the prevent of the congressional leaders are the weekend and the two sides separately meeting this week in washington with business leaders and as we said, unions are planning protests on capitol hill. a lot to talk abou
. >>> president obama meets with small business owners today to promote his solution to the fiscal cliff. the deadline is now 35 days away. the president is holding more events tomorrow and friday. "new york times" reports this morning that a budget deal could reduce the tax deduction millions pay on their mortgage interest. nancy cordes is on capitol hill. good morning. >> reporter: good morning to you, charlie, and norah. the president and house speaker john boehner spoke by phone over the weekend. top aides in the house and senate tell us that negotiations at this point are just taking place between the president's staff and speaker boehner's staff. that's because any deal that involves raising tax revenue is going to face its biggest challenge in the republican-led house. top republicans returning from thanksgiving recess urged the president to make the first offer in fiscal cliff negotiations. and they expressed a new openness to raising tax revenue, if democrats agree to make cuts to strengthen medicare and medicaid. >> elections come and go. and when they g
the fiscal cliff. we have tracie potts with details from washington. >> reporter: today, president obama meets with small business leaders. a new white house economic report warns if tax breaks go away, the average middle class family will owe uncle sam $2,200 next year. >> middle class families should see an extension of the tax cuts. >> reporter: some republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we have been open to revenue by closing loopholes as long as it is tied to spending cuts and pro-growth tax reform that broadens base. >> you don't raise rates. you cap the amounts of eitemize deductions. >> reporter: america is borrowing too much money trying to keep social security and medicare afloat. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: and no word yet on when the next white house meeting will happen. tracie potts, nbc news, washington. >>> thank you. the governor of new
three weeks left before the fiscal cliff, the clock is ticking for president obama and congress. >> the clerk will read the communication. >> reporter: lawmakers are back at work and under the deadline pressure. >> we can solve the greatest economic emergency facing the nation today. >> reporter: white house economist say without a deal to avoid the fiscal cliff, americans may start closing their wallets during the critical holiday shopping season. and curb their spending well into next year. >> they think that it is important that congress extends the middle class tax cuts without delay, without drama. and it is because it will help to maintain the increase in the consumer confidence that we have seen. >> reporter: both sides say they are ready to compromise to avoid the nearly $600 billion in tax hikes and mandatory spending cuts, scheduled to kick in on january 1. but the taxes, they remain the sticking point. republicans and congress, they have been long opposed to any tax increases, but the gop lawmakers say that they are open to raising more revenues through the tax ref
for coming on, and joe klein of "time" magazine. >>> up next, can president obama turn his voters into fighters? this will be fascinating. i found out how great the ground game was in florida. can he put this ground game to work to fight the fiscal cliff? the "hardball" story on that one is coming up right now, the place for politics. >>> "the new york times" has just listed "jack kennedy: elusive hero," my book, on the best-seller list. it's a big honor for the paperback edition. it's a great book of american heroism, the story of jack kennedy, who he was when he lived, who led us, and, of course, who inspired us. it's a perfect upbeat gift for yourself or someone who shares our love of history and american greatness. we'll be right back. those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptom
going nowhere fast, president obama is appealing to a different constituency tonight in his bid to back away from the fiscal cliff. we have fox team coverage. chief washington correspondent james rosen is at the white house to tell us about the president's return to the campaign trail sort of. but we begin with the chief congressional correspondent mike emanuel and another reason that the talk reconciliation so important. good evening, mike. >> good evening. there are strong suggestions that the nation's debt problem may be worse than $16 trillion and counting and key lawmakers are saying it's time to slash spending. >> i can cut $600 billion more out of the federal government tomorrow. nobody would know a difference except for the people employed by the programs here in washington, d.c. >> when asked by fox what he would be willing to cut, the senate majority leader didn't offer anything new. >> remember, we have already done more than $1 billion worth of cuts. we have done that. so we need to get some credit for that. and the negotiations that take place. >> 42 business organizations
. danielle nottingham cbs 5. >>> president obama is making a public case this week for his approach to avert the "fiscal cliff." he is meeting today and tomorrow with small business owners and middle class families and he will visit a small business in pennsylvania on friday. negotiations with republicans continue behind closed doors. a democratic senator says his side is willing to discuss reform of medicare and medicaid. >> the math just doesn't work anymore. not because the programs are bad but because thank goodness we're living longer. >> republicans are signalling they're open to compromise but so far, they still oppose the president's idea to raise taxes on the wealthy. instead, republican leaders want to limit tax deductions and loopholes without an agreement. across-the-board tax hikes will take effect on january 1 without an agreement. here's a breakdown of what would happen. for households earning 20 to $40,000, the tax increase would be $1,200. for householder, 40 to $64,000, the tax hike would be $2,000. and with those incomes of $64,000 up to 6 figures, it would be a $3,500 tax
're live here in redwood city, i'm brian flores, ktvu channel 2 news. >>> 7:34. president obama expected to keep pushing for his ideas on how to avoid the fiscal cliff looming ated end of the year. all this -- at the end of this year. the president wants to extend tax cuts for middle-income americans while letting them expire for those people who earn more than $250,000 a year. coming up at 7:45, whether republicans and democrats are any closer to a deal. >>> wellge the nation's lowest housing -- well, the nation's lowest housing rate is in the south bay. only 3% are vacant. that translates to just 28,000 empty properties out of almost 651,000. nationwide apartment rents are expected to go up again next year. the national association of realtors rents will go up 4.6% because demand exceed supply. in 2014/2015, rents will probably go up more than 4%. nationwide they went up 4.1% this year. but here in the bay area, they are up more than 13%. >>> it is 7:5. a crane had to be us -- it's 7:35. a crane had to be used for a sink holt. these pictures are from a -- sinkhole. these pictures are f
% of americans according to the cnn poll believe obama and the gop should compromise to get thing off a cliff. we have to give and we see the difference ideologically, but in all kinds of tixie deductions and so on and a flat income tax increase on wealthy americans. what's the ideological difference. wealthier people pay a little more tax. >> it's not a ideological difference. what can raise the money most efficiently and effectively to create economic growth that's going to create jobs for people. one of the things i talked about during the campaign was cutting the corporate tax for manufacturing. you want to create jobs that are here in america that are going to create good-paying jobs that create things that people will consume here in it country. let's do something to get this manufacturing economy revved up and going. it's picked up a little bit with lower energy prices. we can do things in the tax code to create jobs here and get some of that wealth, invest it in manufacturing plants facilities, which are construction jobs and the manufacturing jobs after that. we had something -- we're do
. >>> on to our top story tonight, president obama ups the ante on fiscal cliff pressure meeting with small business owners from all walks of live at the white house today. the million dollar question? what will be the real impact on small businesss? with me now, straight from that meeting in a fox business exclusive is the cofounder of book to the roots, an urban mushroom farm growing gourmet business. wow i have to ask yyu a lot about that because i don't understand that. i will ask you first, what happened at the meeting? what did you guys talk about and what was the response you got. >> yeah, thanks for having me on. it was an incredible opportunity. it was really fun room. cool to see the energy and passion in the room. it was 15 small business owners along with the president and i think he asked us to share our stories and how we got to where we are today. he kind of explained a little bit about his vision for the economy and where he thinks it is going. and thoughts about what is top of mind for us about the economy. melissa: so what did you say and did you feel like he listened to y
predicted president obama would be re-elected and that the u.s. is not likely to fall off the fiscal cliff. there are lots of rumblings coming out of washington. let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done. there is no way with the recovery that we have seen - and i'm not talking about the stock market recovery, i am talking more of the consumer sentiment recovery, housing recovery - with what we have seen the last quarter of this year, there is no way that the guys in washington can harm that or add anything to take the momentum away from that. it just won't happen. > let's talk about the stock market. what levels are you watching here? > > 1390 really
news of the day. here's hari sreenivasan. >> sreenivasan: president obama's top economic advisors warned today that the looming "fiscal cliff" may yet hurt holiday sales. in a new report, they said the prospect of automatic tax increases in 2013 could cause consumers to rein in spending. the report came as congress returned to work. lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning as chair of the securities and exchange commission after nearly four years. president obama has designated s.e.c. commissioner elisse walter to replace schapiro, effective december 14. in bangladesh, thousands of people protested today over a deadly fire at a fac
. >> negotiations continue with president obama and congressional leaders about the fiscal cliff. we took your phone calls this morning on "washington journal" about that. >> host: at the daily news conference at the white house, jay carney, the spokesman there was asked about liberals who are advocating going off the so-called fiscal cliff. here's what he had to say. >> rather, he spoke with speaker boehner and senator reid over the weekend. he will meet with them at the appropriate time as well as obviously nancy pelosi and mitch mcconnell. so, the process that he began is continuing. we continue to be optimistic that a balanced approach is achievable. we know what the solutions are. i think what was said in an op-ed, one benefit of all the debates we've had, negotiations and discussions over the past couple of years on this issue is we know what the parameters of a balanced solution to these challenges looks like. they include both spending cuts and revenues, and entitlement reforms. they have to have all three legs to be a part of it. >> host: jay carney yesterday at the white house when he was
out a deal to avoid the fiscal cliff. obama told harry hreid talk about the fiscal cliff before a series of automatic spending cuts go in the place and the bush era tax cuts expire. they will also meet with a group of ceo's later this week. we take you to the august 2011 senate debate on raising the debt ceiling and reducing the federal deficit. comments>> i come here at thist with no real joy. what we put the american people through a lot in the last several months, we ask them to follow us a long as we discussed this idea. i say there is never joy for me to be here today. in my view, that we have failed to do either one. there are no substantial reductions in spending. there are no significant changes in the way the washington, d.c., does business. mr. president, this country need certainty. we need to raise the debt ceiling. there needs to be certainty. it would be irresponsible for us not to raise the debt ceiling, but i have said all along it would be equally as irresponsible if we raise the debt ceiling without meeting the criteria i have outlined. while we will have a dis
fiscal cliff president obama is taking his case to small business owners from across the country, meeting with more than a dozen at the white house, looking to avoid a year-end tax hikes and spending cuts. republican leaders will meet with a bipartisan group of former members of congress as list leaders as well as both sides hold the line on taxes. >> i'm willing to put revenue on the table to pay down debt and create a better economy but my democratic friends have to reform entitlements. what will make us greece is not raising taxes. what will make us greece is not fixing medicare, medicaid and social security. jon: white house press secretary jay carney says president obama will not give on extending current tax rates on wealthy americans. on entitlements carney says the president is open to changes except when it comes to social security. >> the president has long made clear that he is open to discussions about strengthening social security as part of a separate track. jon: so is the u.s. economy heading for a plunge over the fiscal cliff? with us now, associate editor and columnist fo
the economy going over the fiscal cliff. no mystery what the issues areu. the democrats know, republicans know and so does president obama. entitlements are pushing the country toward financial ruin. here is what the president said in 2010. >> the major driver of the long-term liabilities is medicare, medicaid and healthcare spending. nothing comes close. social security we could probably fix the same way tip o'neil and ronald reagan sat down together and we could figure something out. that is manageable. medicare and medicaid, massive problems down the road. that's where, that is what our children have to worry about. >> dana: here we are, two years later and still no plan. on the left in congress refusing to deal with that simple reality. vermont senator bernie sanders caucuses with the democrats. take a listen. >> i get nervous when i hear the president and others continue to talk about quote/unquote, entitlement reform. which is just another cut for medicaid and medicare and social security. >> eric: brian, start with you, today. >> dana: you look surprised. >> brian: i am. yet honored. >>
're so focused and rightly so on fiscal cliff and benghazi, but immigration and what reform and what this election told us about the republicans' problems with hispanics, an important visit tomorrow. the president-elect of mexico to meet with president obama. he called him earlier in month to con the gragratulate him the victory. he will also meet with congressional leaders. the fiscal cliff is looming pending whatever words you want to use to get it done, but the new congress, republicans know immigration reform is a priority. let's see what comes out of that meeting tomorrow. i would assume the mexican president will push president obama to get it done. president obama wants to get it done. he wants to keep the sort of onus on republicans to get something done. that, i think, will focus us a little bit on immigration reform, maybe a slight move off the fiscal cliff for a few hours tomorrow. >> in fact, i think the meeting actually starts this afternoon, so i misspoke on that. they might have wanted not to it talk about the drug war, but they have this horrible assassination now of
-called fiscal cliff because if president obama gets his way, those tax hikes are going to happen even with respect to dividend income. and if the senate democrats get their way, you're still going to get a 5% tax on that income. republicans arguing to keep it the same at 15%? >> well, there is discussions about an increase in the dividend tax, but the issue is it needs to have parity, and it needs to be nominal enough to where it doesn't have an impact on investors. and certainly investors are looking at it and saying, well, if i spend a dollar on a dividend, if i get a dollar dividend return and right now i get 85 cents on that dollar after taxes, i don't want to go, you know, to 64, 65 cents. that's something dramatically different. and i think that's the issue that needs to be dealt with in the overall context. keep in mind, too, that our business and utility industry, these to spend $-- we need to spend $2 trillion just to invest in our system, refurbish the grid and keep the lights on. so it's imperative for us to have investors in our business, otherwise there'll be issues assoc
that once this obama administration priorities past and has a certain outlook and the fiscal cliff, but every single one of the people that are voting and that persons district has an interest in this fiscal cliff negotiation happening, and interest in the compromise being made. and so those -- when the first freshman wave of the party is came in in 2010, when we are negotiating the grit -- debt ceiling this would be the first a dull moment for these freshmen tea party years. this is a second of all moment, and both sides are going to have to make serious painful concessions whether democrat who sacrificed domestic spending on programs that ou think a really important or republican. and generate more revenue with taxation. what the constituents once a republicans to take their oath of office more seriously. melissa: everybody has a stake in the ground about what they want their congressman to do. all very different. that's or hung up. that's -- thank you for coming up. >> thanks for having me. melissa: an unprecedented power grab assets of violent protests as that treat sets and be
in the brewing washington battle over the fiscal cliff. president obama is launching a new pr effort, a campaign if you will, starting with a meeting today, the white house, small business owners, tomorrow he hosts a group of middle class americans who would take a hit if those fiscal cliff tax hikes take effect. and on friday, he heads to pennsylvania, small toy factory in fact, to highlight the role middle class consumers play in this holiday shopping season. back in washington, republicans, they don't like it. they say they want to see the white house leadership and not a return to the campaign trail. but the white house spokesman insists the president is promoting a serious plan. here he was. >> here is a fact. the president has on the table a proposal that reduces the deficit by $4 trillion, that does so in a balanced way, that includes substantial cuts to discretionary, nondefense spending over a trillion dollars, that includes revenue and includes $340 billion in savings from our health care entitlement programs. >> joining me now from new york, rick newman, chief business correspondent f
. melissa: three weeks since the election and no signs of promise with the fiscal cliff negotiation. can they settle differences before we go over the edge? rich edson has the latest. >> three weeks later washington politicians take the fiscal clipper demint to the voters again. obama's heads to suburban philadelphia. white house officials will say he continues to make his case to keep them where they are earning less than two 1/5 thousand and those making more. after a week of meetings of ceo and business leaders but not any with congressional negotiators. >> instead of sitting down with lawmakers to work out agreement, he is back on the campaign trail with the same talking points. >> the president tries to dramatize what the president shows the 60% of voters agree the wealthy should pay more in taxes. >> and republicans are responding that house republicans will visit local small businesses to emphasize the threat to jobs posed by the small business tax hike. lori: the epa may impose new regulations on air quality and carbon emissions and now one of particular is trying to prevent them
is coming up in my next report. >> it is 6:36 a.m.. if president obama has been redirected but he is still campaigning. he is campaigning on dealing with the fiscal cliff. he will travel to pennsylvania and meet with small-business owners as the pressure republicans to extend tax cuts for people that are in less than two and a $50,000. he will be meeting with these business owners and middle class residents. >> new video coming in from cairo. look at all of the tents that are set up. this is a mass rally against a decree of begins the new president. this demonstration is just after he stated that he had a meeting with judges that was aimed at the worst political crisis in june. there are marches across the capitol and this is the center of a protest that is about the numbers and it is expected to swell. >> we will be right back as we continue. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to w
the fiscal cliff a lot of people are saying we're going to have to see tax cuts get raised. president obama and democrats would like to see that just on democrats alone. republicans, as you said, are starting to peel away from that pledge. however grover norquist is threatening those who do so. let's hear what he had to say. >> no pledge taker has voted for a tax increase. you've had some people discussing impure thoughts on national television. the pledge is not for life but everybody who signed the pledge, including peter king who tried to weasel out of it, shame on him as the new york sun said today, i hope his wife understands that commitments last a little longer than, than, than two years or something. >> there you had grover norquist from the americans for tax reform who has spearheaded this no tax pledge. the fact of the matter is, zoraida, to reach an agreement there's going to have to be compromise, whether that means increasing taxes on some, whether that means changing entitlement reform, both sides are going to have to come to the table to try to reach an agreement. >> mark, ca
? >> the fiscal cliff. >> stephen: fiscal cliff, yeah. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off their arms on camera? okay. -- (cheers and applause) >> stephen: as i said senior white house correspondent for abc news. the only news anybody watches any more. >> i think that's true. >> stephen: and you have got eye new book here called the outpost, an untold story of american valor. this is about the war in afghanistan. >> it's about one combat outpost in afghanistan, 14 miles from the pakistan border, built at the bottom of three very steep mountains, built in 2006. and overrun in 2009 by the taliban. >> stephen: let's put a picture of this space right here. >> that's it.
certainly didn't have that theme during the campaign. i just heard that clip of obama you played talking about damage to our economy from the so-called fiscal cliff. we really can't hurt the economy any more right now than we did on november 6th. look, this fiscal cliff they're talking about simply isn't high enough for a fatal plunge. when we get to the cliff that we could die on, then they'll start talking about less government and cutting spending. >> sean: how much further can you go? i mean $16 trillion, headed to $20 trillion, headed to $25 trillion. look, black friday, this was on drudge, just put up late tonight, literally 200 -- however much it is -- per person in this country, $susa $200 ande dollars, every child born today in debt. seems to me there's a moral case to be made that stealing from your kids and grandkids is one that would resonate. living within your means is one that would resonate. i don't hear anybody discussing it. republicans talk about caving. >> sean, we live in culture where you're greedy to keep the money you earn but not greedy to take away the money tha
understand the fiscal cliff is a scary and a series of living tax hikes. it could damage the economy. president obama has been pressuring congressional leaders to reach a compromise that increases taxes on wealthy americans. a handful of republicans are suggesting they might break their pledge to never vote for higher indicate taxes. >> and for the good of the country only if democrats would do a title that. >> the pledge that we signed 18-20 years ago but the world has changed. >> is music to the ears of the white house but disturbing to this man. the anti-tax crusader that cut republicans to tax no tax- agreement. it >> if you want to go to your voters and say i promised to this and i am breaking the promise you have that conversation. >> if he seems confident so for these numbers are not on his side. 258 members of congress that have signed the pledge with only one half dozen have publicly expressed doubts about it. the test of weather they are were ready to break the tax increase will, in the next six weeks. catherine heenan, kron 4. >> the state of york is requesting nearly $42
in washington and the fiscal cliff? the market rundown is next. a member of obama's financial team is out. and a big name governor says he's in. clashes in cairo as egypt's president continues to push the limits of his power. but first today's trivia question. who holds the record as both the youngest and the oldest governor ever in his state's history? wanna see me get some great deals? ok! it's a new way to get cash back deals and it's called bankamerideals. i sign in to my online banking... click the "cash back deals" tab... and pick the deals i want. i just use my bank of america debit or credit card when i pay. and then i get up to 15% cash back... put into my account! i know, right? [ male announcer ] introducing bankamerideals, free for online banking customers. sign in to your online banking to choose your deals today. free for online banking customers. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies.
the fiscal cliff. the first strategy, of course, and the first bullet point is when president obama gets together with congressional leaders and they try to get some kind of resolution. the second bullet point, though, is to try to pressure the republican party and that's what we're seeing from president obama by going out to pennsylvania, to this manufacturing facility, that makes toys, including tinker toys and the k'nex building set. so we'll be doing that on friday. in addition, today it actually starts. pressure campaign begins today. they'll be meeting with small business owners at the white house. tomorrow it will be meeting with middle class americans who say that they will be impacted if congress doesn't fix the fiscal cliff. they'll also be meeting with business leaders this week. so we're seeing a two-prong strategy right now out of the white house. >> it starts moving in the realm of tinker toys you know it's getting very, very serious. we've seen some republicans, major republicans, come out the last few days saying they don't feel bound anymore by that americans for tax ref
on the newshour tonight, we get two opposing views on how to avert the so-called fiscal cliff from representatives tom price and keith ellison. >> brown: then, president obama sat down with mexico's president-elect, enrique pena nieto, this afternoon. one topic for them and for us tonight: the war on drugs, on both sides of the border. >> suarez: as lawmakers talk of reducing the country's debt, paul solman offers a history lesson on centuries of federal borrowing. >> the united states was going into default. we defaulted on many obligations to foreign creditors and to our own soldiers. >> brown: plus, every month, 1,000 young americans are infected with h.i.v., and most of those with the disease don't even know they have it. hari sreenivasan looks at a new report from the c.d.c. that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st c
cliff is looming as lawmakers on capitol hill look for ways to hit the brakes. president obama and members of congress got back to work today after the holiday break. cbs reporter danielle nottingham on the warning tonight from the white house. >> reporter: lawmakers are back at work and under deadline pressure. >> we can solve the greatest economic emergency facing the nation today. >> reporter: white house mommists say without a deal to avoid the fiscal cliff, americans may start closing their wallets during the critical shopping season and curb their spending into next year. >> they think it is important that congress extend the middle class tax cuts without delay and drama is because it will help to maintain the increased consumer confidence we've seen. >> reporter: both sides say they are ready to compromise to avoid the nearly $600 billion in tax hikes and mandatory spending cuts scheduled to kick in on january 1st. but taxes remain the sticking point. republicans in congress have been long opposed to any tax increases, but gop lawmakers say they are open to raising more
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